One of the best indicators of business success is its permanence over time. Since long-term companies are a fundamental pillar within the business fabric, it is another type of organization that helps the most to energize a market: sustainable startups.
A sustainable startup is an entrepreneurial project whose business model includes principles of sustainability, both environmental, economic and social.
Characteristics of a sustainable startup:
- A startup can be considered sustainable either because its business model is focused on environmental issues – such as energy efficiency or the protection of biodiversity – or social issues – for example, the fight against inequalities or in favor of the inclusion of certain vulnerable groups. – ; either because it applies sustainable and social responsibility principles to its management, or because of a combination of both.
- Innovative, the search for disruptive solutions that reverse the effects of climate change or help end inequalities forces us to express our imagination and put efforts into methodological research and new digital developments.
- Responsible, it assumes that one of its objectives as a company is, apart from the legitimate aspiration to obtain economic benefits, to contribute to the common good through the production of products and/or services that generate a positive impact on the environment.
- It has a positive impact on its environment to improve the quality of life of people with special needs or at risk of exclusion, to applications to improve environmental behaviors at home, AI developments to anticipate urban traffic movements with a view to planning trips and reduce pollution...
Sustainable companies lead by example. To do this, they transfer sustainable practices to the management of their businesses that can range from the adoption of renewable energy models, such as photovoltaic panels, to the optimization of their processes and resources, such as the use of shared work spaces, the adoption of teleworking as way to reduce the displacement of its workers or the choice of local suppliers.
These companies have transparency, ethics and coherence between what they say and what they do as some of the vectors that mark their trajectory. Furthermore, they are diverse, inclusive and integrated companies with their environment.
- They promote alliances, joint projects and the exchange of knowledge with other entrepreneurs, large companies, associations, universities and public organizations.
- Resilience and adaptability, permanent innovation, iteration, response agility and adoption of flexible work methods.
- Scalability, a sustainable startup may have a local focus, but its ambition must be global and its model must be able to be replicated on a larger scale and in new markets if its impact is to be exponential.
It is key in technology, innovation or training of workers, and having rigorous business plans that guarantee the viability of the company not only in the immediate present, but also in the medium and long term.
Finally, they are based on a condition, that of sustainability, which has not only made the leap from social or environmental activism to the strategic plans of companies of all sizes and sectors, but has become a competitive advantage and source talent attraction.